Fun

ETH Price to Fall to $922 by December 10, Coincodex Predicts

News Feed - 2022-12-08 06:12:26

ETH Price to Fall to $922 by December 10, Coincodex Predicts


The U.S. dollar price of ether, which presently hovers around $1,200, is expected to fall to $922.66 by Dec. 10, a Coincodex prediction chart has shown. Ethereum is nonetheless projected to close the following day trading above $1,000. According to the Coincodex analysis, there are presently 15 technical indicators out of a total of 28 that project a bearish outlook for the asset. ETH’s Negative Trend


According to an analysis by the digital asset exchange platform Coincodex, the U.S. dollar value of ETH is expected to drop to $922.66 by Dec. 10. The analysis suggests ether price, which stood at $1,230 on Dec. 7 (1:00 p.m. EST), must decline by almost 25% for this prediction to become a reality.


In a report which shares some factors that led to the negative price prediction, the Coincodex team also points to ETH’s negative trend which can be evidenced by its 21.5% decline between Nov. 5 and Dec. 5. Similarly, in a period of 90 days that ended on Dec. 5, the crypto asset’s price fell by nearly 23%.


Bearish Conditions in Ethereum Markets


Explaining the negative outlook for ETH, Coincodex said: The medium-term trend for Ethereum has been bearish, with ETH dropping by -22.81% in the last 3 months [to Dec. 5]. The long-term picture for Ethereum has been negative, as ETH is currently displaying a -69.28% 1-year price change. On this day last year, ETH was trading at $ 4,220.95.


After reaching an all-time high of $4,862.24 on Nov. 9, 2021, ETH has declined by nearly 75% since then. The prevailing sentiment in ethereum markets remains largely bearish with 54%, or 15 technical indicators out of a total of 28, supporting this characterization — hence the price drop prediction. Source: coincodex.com


However, despite the negative prediction, the Coincodex ETH prediction chart seems to suggest that ETH’s drop to below $1,000 will only last for 24 hours. Just a day after tapping the new 30-day low, the price of ETH is expected to rally to $1,019.56 by Dec. 11. Tags in this story coincodex, ETH, ether, price prediction, Technical indicators


What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara


Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Mad Money"s Jim Cramer Advises Investors to Get out of Crypto — Says "It"s Never Too Late to Sell" MARKETS AND PRICES | 23 hours ago Bitcoin Dominance Has Remained Under 40% for More Than 3 Consecutive Months MARKETS AND PRICES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMetacade Presale for Web3’s First-Ever P2E Crypto Arcade Raises Over $670k in Under 2 Weeks Next articleNigeria Announces New Cash Withdrawal Restrictions — ATMs Limited to Less Than $44 per Day Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design

News Feed

Binance marks 7th anniversary with 200M users and new campaign
Zoltan Vardai12 hours agoBinance marks 7th anniversary with 200M users and new campaignThe milestone takes Web3 closer to reaching its first billion users, according to Binance’s chief marketing officer.1970 Total view
Total Value Locked in Defi Surpasses $200 Billion — Fantom, Avalanche, Harmony, Arbitrum TVLs Swell
Total Value Locked in Defi Surpasses $200 Billion — Fantom, Avalanche, Harmony, Arbitrum TVLs Swell Decentralized finance (defi) has swelled quite a bit this year and on October
Sotheby's to sell CryptoPunk and Beeple NFT at digital auction
Ezra Reguerra12 hours agoSotheby"s to sell CryptoPunk and Beeple NFT at digital auctionThe online event will occur at 7 pm UTC and end on Aug. 22. 1568 Total views17 Total sharesListen to article 0:00NewsOwn this piece
Ethereum Bullish Pattern Points To Immediate $3,000 Target – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Global Digital Industry Group Launches Mining Business Bitworld
Global Digital Industry Group Launches Mining Business BitworldThe UAE cryptocurrency giant, Global Digital Industry Group (GDIG), has established its mining subsidiary Bitworld and
Invest in Your Online Future with NFT Domains: Mint Yours at Quik․com
Invest in Your Online Future with NFT Domains: Mint Yours at Quik․com sponsored As the world of digital assets continues to evolve, the rise of non-fungible tokens (NFTs) has take
Starknet set for first mainnet staking vote: What STRK holders need to know
Josh O"Sullivan11 hours agoStarknet set for first mainnet staking vote: What STRK holders need to knowStarknet’s inaugural staking vote introduces mechanisms for minting and parameter adjustments, paving the way for st
Bitcoin Price Spike Targets the $40K Handle, Crypto Economy Recaptures $1 Trillion Market Cap
Bitcoin Price Spike Targets the $40K Handle, Crypto Economy Recaptures $1 Trillion Market Cap Crypto asset markets have seen some significant gains over the last
SEC calls for comments on Fidelity, Grayscale and Bitwise spot Ether ETF applications
Turner Wright3 hours agoSEC calls for comments on Fidelity, Grayscale and Bitwise spot Ether ETF applicationsMany expect the commission to reach a final decision on spot Ether ETFs in May with approval or denial of a fil
SEC pushes decision on Franklin Templeton spot Ether ETF
Turner Wright7 hours agoSEC pushes decision on Franklin Templeton spot Ether ETFThe commission will have until June 11 to decide on the Cboe BZX Exchange listing and trading shares of the Franklin Ethereum Trust.2793 Tot
Iggy Azalea’s MOTHER memecoin surges 30% on mobile company announcement
Zoltan Vardai12 hours agoIggy Azalea’s MOTHER memecoin surges 30% on mobile company announcementThe memecoin will allow holders to purchase smartphones and mobile phone subscriptions in the newly relaunched company.191
Bitcoin Ordinal Inscriptions Surge Past 100,000 Mark, Spurring Development of Supporting Infrastructure
Bitcoin Ordinal Inscriptions Surge Past 100,000 Mark, Spurring Development of Supporting Infrastructure According to the latest statistics, more than 100,000 ordinal inscriptions h